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Indian Bank Retirees’ Assn demands to update their pension

In a release here, the association stated that updation of pension is their long pending demand and we have been hopeful of getting some favourable orders.

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Hyderabad: Indian Banks Retirees’ Association, a body with over 1200 retired bank employees spread across two Telugu states of Andhra Pradesh and Telangana, on Monday demanded that their pension be updated. 

In a release here, the association stated that updation of pension is their long pending demand and we have been hopeful of getting some favourable orders.

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The Association said that the retiree’s updation pension should be on the lines of the same that is given in the Reserve Bank Pension Scheme. Though the Reserve Bank of India (RBI) has permitted the updation of pensions for their employees, the bank pensioners have been drawing their pensions without any revision for the past three decades.

Even the LIC also permitted the updation of pensions for their employees, the bank retiree’s pension was not updated and the persons retired as General Managers, in the past, are drawing less pensions than a clerk who is retiring now on account of non-revision of pension, the association felt .

S M Deshpande, President of All India Bank Retirees’ Federation , the other office bearers A. Rajendra Prasad, President of Telangana Bank Retirees Federation; R. Laxman Rao, Telangana General Secretary and A Yella Rao, Andhra Pradesh General Secretary also demanded that their long pending demands be looked into.

All India Bank Retirees Federation is a National Body comprising all the Banks and has 2.5 lakh people as its members.

The Indian Banks’ Association has not recognized any of these Retirees’ Association and there is nobody to represent them in negotiations. Employees’ Unions represent only working staff and they have their issues to discuss and settle.

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